Municipal Bond Expert for Accounting Malpractice Case

Case Description:

A municipal bond expert was sought for an accounting malpractice case involving the bankruptcy of a not-for-profit organization. A prominent accounting firm was hired to audit the organization as part of the bankruptcy procedures. Counsel found non-compliance with certain bond covenants required for insurance. This information was never conveyed to the auditors and they failed to report it.

IMS ExpertServices was asked to locate a municipal bond expert with at least 20 years of experience advising municipal bond issuers on covenant compliance issues. The expert was needed to explain bond covenants, how they're used, and the process of annual review and certification as required for insurance purposes. The expert would further opine on issues of accounting malpractice and fiduciary duty in the role of auditors and counsel in the bond certification process.

Experts Presented:

  • Municipal Bond

    This municipal bond expert has experience in municipal bonds and bond insurance, having served as bond counsel, issuer’s counsel, disclosure counsel, and underwriters’ counsel in financings for governmental entities and not-for-profit institutions. She has experience working with clients in bankruptcy and understands the relevant accounting malpractice and fiduciary responsibilities. This expert has helped clients interpret the boundaries of responsibility in non-litigation matters. IMS Reference #4973820

  • Municipal Bond

    This expert in municipal bond law has served as bond counsel for a public utility for more than 25 years. He has extensive experience in public finance, with a particular emphasis on public power and health care financings. This expert has acted as bond and underwriters counsel on numerous bond financings. While he has not previously worked as an expert witness he has worked closely with accounting firms involved with audits and understands the fiduciary responsibilities at issue. IMS Reference #4874672

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Industry: All, Securities